StockNews.com Initiates Coverage on Steel Partners (NYSE:SPLP)

Stock analysts at StockNews.com assumed coverage on shares of Steel Partners (NYSE:SPLP) in a research note issued on Saturday. The brokerage set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Stock Down 0.7 %

Steel Partners stock opened at $41.01 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.15 and a debt-to-equity ratio of 0.08. The firm’s fifty day moving average price is $38.49 and its two-hundred day moving average price is $38.09. The firm has a market capitalization of $836.19 million, a price-to-earnings ratio of 6.00 and a beta of 1.35. Steel Partners has a 1-year low of $33.12 and a 1-year high of $44.99.

Steel Partners (NYSE:SPLP) last issued its quarterly earnings data on Wednesday, August 7th. The conglomerate reported $4.85 EPS for the quarter. Steel Partners had a return on equity of 21.44% and a net margin of 11.04%. The firm had revenue of $533.16 million during the quarter.

Institutional Trading of Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. Teton Advisors Inc. raised its position in Steel Partners Holdings L.P. (NYSE:SPLP) by 22.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,500 shares of the conglomerate’s stock after buying an additional 2,300 shares during the period. Teton Advisors Inc. owned 0.06% of Steel Partners worth $496,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 50.75% of the company’s stock.

About Steel Partners

Steel Partners Holdings L.P., together with its subsidiaries, engages in industrial products, energy, banking, defense, supply chain management, logistics, and youth sports businesses worldwide. It operates through Diversified Industrial, Energy, Financial Services, and Supply Chain segments. The company fabricates precious metals and alloys into brazing alloys; manufactures and sells seamless stainless steel tubing coils; fasteners, adhesives, and fastening systems for the commercial low slope roofing industry, as well as specialty fasteners for the building products industry; and woven substrates of fiberglass, quartz, carbon, and aramid materials for specialty applications.